A recent report has revealed that tribal casinos in the United States brought in nearly $42 billion in gaming revenue in the past year. The Indian Gaming Cost of Doing Business Report gathered data from 132 tribal organizations across 18 states, encompassing over 500 different properties.
According to the report, there was a 2.4% increase in gross gaming revenue for tribal casinos, reaching a record total of $41.9 billion. However, profit margins have been on the decline, dropping from 36% in 2021 to 30% in 2022 and further down to 26% last year. Despite the gradual expansion of sports betting throughout the country, it has not become a significant revenue source for tribal casinos, which continue to rely heavily on their land-based operations.
In comparison to the impressive $42 billion generated by tribal casinos in 2023, the commercial gaming sector in the US, as outlined by the American Gaming Association (AGA), saw even greater success. Commercial properties in the country raked in over $66 billion in gaming revenue last year, setting a new all-time high.
The report highlights the continued growth and success of tribal casinos in the US, despite facing challenges such as tightening profit margins. With a strong focus on land-based operations and limited reliance on sports betting, tribal casinos have managed to maintain their position as key players in the gaming industry.
Overall, the data presented in the report showcases the resilience and adaptability of tribal casinos, as they navigate through changing trends and economic conditions to continue delivering significant revenue and entertainment to their patrons.